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Finance Access of SMEs: What Role for the ECB?

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Listed:
  • Ansgar Belke
  • Florian Verheyen

Abstract

In this paper we describe the genesis of a doomsday scenario and discuss potential causes and motivations for a breakup of the euro area. For this purpose, we differentiate between the departure of weak and strong countries, and examine the impact of the reintroduction of a national currency on domestic debt, the domestic banking sector, EU membership and the freedom of trade. We also briefly analyze the social and political costs of the accompanying social disorder.

Suggested Citation

  • Ansgar Belke & Florian Verheyen, 2013. "Finance Access of SMEs: What Role for the ECB?," ROME Working Papers 201311, ROME Network.
    • Handle: RePEc:rmn:wpaper:201311
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    References listed on IDEAS

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    1. Columba, Francesco & Gambacorta, Leonardo & Mistrulli, Paolo Emilio, 2010. "Mutual guarantee institutions and small business finance," Journal of Financial Stability, Elsevier, vol. 6(1), pages 45-54, April.
    2. Ansgar Belke & Rainer Fehn & Neil Foster, 2001. "Venture Capital Investment and Labor Market Performance: A Panel Data Analysis," Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim 197/2001, Department of Economics, University of Hohenheim, Germany.
    3. Berger, Allen N. & Udell, Gregory F., 2006. "A more complete conceptual framework for SME finance," Journal of Banking & Finance, Elsevier, vol. 30(11), pages 2945-2966, November.
    4. Bartoli, Francesca & Ferri, Giovanni & Murro, Pierluigi & Rotondi, Zeno, 2013. "Bank–firm relations and the role of Mutual Guarantee Institutions at the peak of the crisis," Journal of Financial Stability, Elsevier, vol. 9(1), pages 90-104.
    5. Edward I. Altman & Gabriele Sabato, 2013. "MODELING CREDIT RISK FOR SMEs: EVIDENCE FROM THE US MARKET," World Scientific Book Chapters, in: Oliviero Roggi & Edward I Altman (ed.), Managing and Measuring Risk Emerging Global Standards and Regulations After the Financial Crisis, chapter 9, pages 251-279, World Scientific Publishing Co. Pte. Ltd..
    6. Belke, Ansgar & Gros, Daniel, 2002. "Monetary integration in the Southern Cone," The North American Journal of Economics and Finance, Elsevier, vol. 13(3), pages 323-349, December.
    7. Colombo, Massimo G. & Delmastro, Marco, 2002. "How effective are technology incubators?: Evidence from Italy," Research Policy, Elsevier, vol. 31(7), pages 1103-1122, September.
    8. Cardone Riportella, Clara & Briozzo, Anahí & Trujillo Ponce, Antonio, 2011. "What do Basel Capital Accords mean for SMEs?," DEE - Working Papers. Business Economics. WB wb111004, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    9. Schneider, Cedric & Veugelers, Reinhilde, 2008. "On Young Innovative Companies: Why they matter and how (not) to policy support them," Working Papers 04-2008, Copenhagen Business School, Department of Economics.
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    Cited by:

    1. repec:pmu:oecono:v:1:y:2013:p:1-12 is not listed on IDEAS
    2. Agnieszka Gehringer & Jörg König, 2021. "Recent Patterns of Economic Alignment in the European (Monetary) Union," JRFM, MDPI, vol. 14(8), pages 1-23, August.
    3. Gabriele Tondl, 2016. "Interest rates, corporate lending and growth in the Euro Area," Department of Economics Working Papers wuwp227, Vienna University of Economics and Business, Department of Economics.
    4. Bradut-Vasile BOLOS & Hesham MAGD, 2013. "Supporting Sme'S Through Islamic Finance Inspired Operations," STUDIA UNIVERSITATIS PETRU MAIOR SERIES OECONOMICA, Petru Maior University, Faculty of Economics Law and Administrative Sciences, vol. 1, pages 1-12, December.

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    More about this item

    Keywords

    banking crisis; debt crisis; exchange rates; euro; optimum currency area; secession yields;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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